ARLINGTON, Va., Dec. 6, 2010 /PRNewswire-USNewswire/ --BNA Books, a division of specialized news and information publisher BNA, announced today the publication of Section 409A Handbook, a resource that provides the comprehensive guidance necessary to interpret the complex rules of Section 409A, as well as analysis and pertinent advice on the many unresolved issues involved.

Section 409A Handbookwill help practitioners successfully navigate Section 409A, with its broad scope, extensive and complicated regulations, and myriad corollary rules and unresolved issues. The enactment of Tax Code Section 409A by Congress as part of the 2004 American Jobs Creation Act has been a rude awakening for those accustomed to handling nonqualified deferred compensation arrangements under the previous regulatory regime. The detailed, complex rules for compliance with Section 409A have forced practitioners to devote far more time than before to plan design and compliance, a necessity given the significant tax penalties for noncompliance. There are still many unresolved issues under Section 409A, and it is not anticipated that additional guidance will be forthcoming.

Fundamentally useful to both the executive compensation practitioner and the more general benefits practitioner, Section 409A Handbookis a clear guide for advising on, designing, and modifying compensation arrangements to comply with Section 409A. With contributions from numerous recognized experts in the field, this resource provides essential, practical information regarding:

This resource has become even more critical as the IRS has significantly increased audits and enforcement of executive compensation rules such as Section 409A as part of revenue raising activities. As the first comprehensive examination of Section 409A, this resource offers guidance that will be invaluable to any practitioner in the field of employee benefits or executive compensation.

The authors, Regina Olshan and Erica F. Schohn, are with Skadden, Arps, Slate, Meagher & Flom LLP. Ms. Olshan organized and led the successful effort by a coalition of more than 90 law firms requesting the extension of the original Section 409A compliance deadline. Ms. Olshan lectures frequently on executive compensation issues, was selected for inclusion in Chambers USA: America's Leading Lawyers for Business 2010 and The Best Lawyers in America 2010, and is a member of the executive committee of the New York State Bar Association, Tax Section. Ms. Schohn's practice focuses on executive compensation, mergers and acquisitions, corporate governance matters. She regularly advises clients regarding tax planning with respect to compliance with Section 409A and the tax rules relating to deferred compensation, the excise tax on excess parachute payments, and limits on the deductibility of executive compensation.